Summary
Chinese automaker Zhejiang Geely Holding Group expects to spend hundreds of millions of dollars beyond the $1.8 billion purchase price for Volvo Cars to make the Swedish car company profitable, Geely's chairman said Tuesday.
Geely is projecting a total tab of $2.7 billion for its takeover of Volvo, with money beyond the purchase price to be spent on expanding production, chairman Li Shufu told reporters.See the full content of this document
Extract
Geely to Plow Further $900 Million Into Volvo
Li said half of the total cost woul...
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